Gold silver prices fall sharply amid global market shifts
Hyderabad: Gold silver prices fall sharply in domestic and global markets, driven by a stronger dollar and rising US bond yields, market analysts said.
Despite escalating tensions in the Middle East, precious metal prices took a downward turn. Experts attributed the decline to the strengthening of the US dollar and increased returns on American Treasury bonds, which reduced investor interest in gold and silver.
The decision by the US Federal Reserve to keep interest rates steady also contributed to inflation concerns. As a result, investors shifted away from safe-haven assets, leading to a decline in bullion prices.
Gold silver prices fall sharply on MCX and global markets
On the Multi Commodity Exchange, silver prices recorded a steep fall of nearly 8 percent. The price of silver dropped by around ₹19,000 per kg in a single day, settling at approximately ₹2.29 lakh.
Gold prices also followed a similar trend, declining by about 4 percent. The price of 10 grams of gold fell by nearly ₹6,000, reaching around ₹1.46 lakh.
In the international spot market, gold was trading at $4,682 per ounce, while silver stood at $70 per ounce. Meanwhile, in the Hyderabad bullion market at around 4:50 pm on Thursday, 10 grams of pure gold was priced at ₹1.52 lakh, and silver was trading at ₹2.36 lakh per kg.
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